Competition in a market is when a company tries to get a consumer to buy its product, rather than another company’s product. A company competes in a variety of ways, including charging a low price, offering a product with attributes that are appealing to consumers, and advertising to inform consumers of its product. When a clothing store has a sale, and provides helpful, courteous sales people in an attractive setting, it is competing for your business by making itself more appealing than other clothing stores.
- Denim in the Raw: ‘There Is No Better Time than Now to Start Your Business’KWHS interviewer Avivah Hotimsky recently sat down with Adina Luo, cofounder of Black Box Denim, to discuss her passion for great-fitting jeans and for building a brand.
- Poor Perfume Sales Reveal the Powerful Connection between Business and CelebritySometimes even Swifties need to take the good with the bad. On August 18, fans tuned in for Taylor Swift's much-anticipated Yahoo Worldwide Live Stream. The next day, cosmetics company Elizabeth Arden blamed its worst quarterly financial results ever on slow sales of celebrity perfumes, especially scents endorsed by Taylor Swift and Justin Bieber. It's a reminder that behind every brand is a business working hard to be profitable, and celebrity endorsements can influence success.
- Empowerment 2021: Advice from 11 Leaders We Met This Past Year
- Epic Games vs. Apple: What's Next for the App Economy?
- The Essential Educator: 10 Tips for Teaching the Wharton Investment Competition